Daily Market Report (11 Feb 2020)
- Notwithstanding the coronavirus death toll that has crossed the 1,000 mark, US markets continue its rise on the back of robust earnings result thus far.
- However, commodity markets are telling another story as it continues to weaken as demand and outlook seems clouded by the pandemic scare.
- Regional markets will continue to be cautious with the focus on the coronavirus dampening sentiments.
- On the local front FBM KLCI may see some bargain hunting with support level at 1,530 level.
- CPO inventory fell to the lowest level since 2017 and may see trading opportunities in plantation counters today.